Press Releases

Washington, D.C. – The National Association of Manufacturers released its Manufacturers’ Outlook Survey for Q3 2024, which, reflecting overall uncertainty across several challenges, shows a drop in manufacturing sentiment in the third quarter.

“The preelection uncertainty explains in part the drop in optimism, but economic pressures and policy threats are also at play. The good news is that there is something we can do about it,” said NAM President and CEO Jay Timmons. “We will work with lawmakers from both parties to halt the looming tax increases in 2025; address the risk of higher tariffs; restore balance to regulations; achieve permitting and energy security; and ease labor shortages and supply chain disruptions.

“Manufacturers are the backbone of the U.S. economy, creating jobs, investing in our communities and developing products that make life better for everyone. When policymakers take action to create a more competitive business climate for manufacturers, we can sustain America’s manufacturing resurgence—and strengthen our can-do spirit.

“This administration and Congress—and the next administration and Congress—should take this to heart, put aside politics, personality and process and focus on the right policies to strengthen the foundation of the American economy.”

Select Survey Findings:

• The NAM conducted the Q3 2024 Manufacturers’ Outlook Survey Sept. 5–20. In Q3, 62.9% of respondents felt either somewhat or very positive about their company’s outlook, falling from 71.9% in the second quarter. The average over the past four quarters is 67.4%.
• A weaker domestic economy was cited as manufacturers’ top concern in Q3 2024, with 68.4% claiming it is their primary challenge. This was followed by rising health care costs (62.9%) and an unfavorable business climate (60.5%). Attracting and retaining a quality workforce now ranks as the fourth-highest concern, after remaining at the top of this list since Q4 2017.
• Manufacturers want Congress to prevent tax increases. Nearly 9 out of 10 respondents agree that Congress should act before the end of 2025 to prevent scheduled tax increases on manufacturers. The 20% pass-through deduction, individual tax rates and the estate tax exemption threshold are scheduled to expire or become less competitive at the end of 2025.
• Tax increases will harm growth in manufacturing in the United States, with 92.3% of manufacturers contending that the corporate rate should remain at or below 21%. If the corporate rate is increased from 21% to 28%, more than 71% of respondents said this increased tax burden will impact their business negatively.
• Lawmakers need to act to address health care costs for manufacturing workers. More than 72% of respondents support congressional action to reduce health care costs by reforming pharmacy benefit managers, while less than 6% oppose and 21.7% are uncertain.

The NAM releases these results to the public each quarter. Further information on the survey is available here.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Circleville, Ohio – With just weeks remaining before Election Day, the Route 250 Initiative aims to show that even in moments of political division, we can come together to celebrate the contributions of creators, makers and doers across America.

The National Association of Manufacturers, funded by a grant from Stand Together Trust, launched the Route 250 Initiative proof of concept at the Circleville Pumpkin Show to highlight stories of creators in Ohio and beyond, encouraging participants to consider how they can contribute to their communities through acts of service, innovation and collaboration as the nation gets ready to commemorate America’s 250th anniversary in 2026.

The Route 250 Diner, the centerpiece of this immersive experience, evokes the classic American diner. Visitors are invited to reflect on the contributions of those who make things in America and engage in conversations to learn more about their neighbors and get excited about the future.

“America’s Semiquincentennial is the perfect opportunity to remind ourselves—and especially the next generation—about what makes our nation exceptional,” said NAM President and CEO Jay Timmons. “When trust in our country is high, we are at our best and can do more to realize its full promise. It inspires that American spirit of hard work, grit and determination that has been central to our progress in centuries past—and will be essential for centuries to come. By strengthening civic pride, inspiring acts of service and deepening our connections to our communities, we can ensure that manufacturers and enterprises across the nation shape a brighter future for America.”

“Since the Declaration of Independence, Americans have been actively creating and building a better future for our country,” said Stand Together Vice President, Sarah Cross. “The Stand Together community celebrates this spirit of progress seen in the Route 250 Initiative. Empowered individuals driving positive change in their communities are vital to America’s next 250 years.”

“The Route 250 Initiative is an important celebration of America’s creators and makers who play a vital role in strengthening our communities through meaningful acts of service as we approach America’s 250th anniversary in 2026,” said America250 Chair, Rosie Rios. “America250 is grateful to Circleville Mayor Michelle Blanton, the National Association of Manufacturers, and Stand Together Trust, along with America 250-Ohio and our other state partners, for their invaluable support in making this initiative a reality as we build momentum towards this historic milestone.”

“Just as restaurants bring people together to share meals and important moments, this initiative provides a space for people to come together and connect,” said National Restaurant Association President and CEO Michelle Korsmo. “The Route 250 Initiative reminds us that in every community, there are people creating opportunities for themselves and others—and that’s something worth celebrating as we help more people learn how to make America’s next 250 years better than our first.

“As we approach this momentous anniversary, the Route 250 Initiative is an exciting way to bring communities together and reflect on the principles that have guided us for 250 years,” said Bill of Rights Institute President and CEO David Bobb. “By engaging in meaningful, constructive dialogue and celebrating the individuals who by their hands, hearts and minds are creating a better future, we can inspire a renewed commitment to those enduring ideals.”

In addition to the National Restaurant Association and the Bill of Rights Institute, the proof of concept is held in partnership with the International Franchise Association, The Ohio Manufacturers’ Association, the Ohio Restaurant & Hospitality Alliance and America 250-Ohio, among other supporting organizations. It’s also organized with the support of Advoc8 and LSG. The experience will be open to attendees at the Circleville Pumpkin Show Oct. 17–19, 2024.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org

-Stand Together Trust-

Stand Together Trust (STT) is a grantmaking organization that supports bottom-up solutions by empowering people through key institutions like business, communities, education, and government. We connect social entrepreneurs and policy innovators with resources—funding, incubation, talent, and strategic support—to accelerate their impact. As part of the Stand Together community, STT tackles the root causes of our country’s toughest challenges, from education and economic opportunity to health care and bridging divides. Learn more at standtogethertrust.org.

Washington, D.C. – As the Biden administration continues its efforts to boost the availability of clean energy in the United States and around the world, an ongoing pause in liquefied natural gas export licenses threatens economic stability as well as progress made by manufacturers in America. A staggering 900,000 jobs could be at risk according to a new study released today by the National Association of Manufacturers.

“With LNG exports, we do not have to choose between what’s good for the economy and good for the planet. Today’s research shows the massive opportunity America has when we unleash our economic and energy potential. LNG exports also play a key role in meeting clean energy goals. But clamping down on our energy sector unnecessarily puts jobs and economic growth at risk, while pushing other nations to use higher emissions alternatives,” said NAM President and CEO Jay Timmons. “Building LNG export facilities and expanding natural gas production are not just good for our industry—they also cut emissions and help power manufacturing around the world.”

Conducted in partnership with PwC, the analysis uses the government’s own projections to conclude that robust LNG export activities could contribute up to $216 billion to U.S. GDP and generate $46 billion in tax revenue in 2044 if projects proceed as planned. A pause on LNG exports threatens these gains.

Timmons added, “The Biden administration’s ill-advised decision to stop LNG exports could cost Americans dearly, while leaving our geopolitical allies—particularly in Europe—out in the cold. The data is clear: halting LNG export licenses puts nearly a million jobs at risk. The LNG freeze also deprives us of an important tool of soft power to bolster trading partners who share our values. This study provides policymakers—present and future—a clear path to create jobs and hundreds of billions of dollars in economic growth by harnessing America’s abundant supply of LNG.”

Current Economic Benefits by the Numbers:

• Job creation: U.S. LNG exports support 222,450 jobs, resulting in $23.2 billion in labor income.
• Economic output: The LNG industry contributes $43.8 billion to U.S. GDP.
• Tax revenue: Federal, state and local governments receive $11.0 billion in tax revenues, thanks to U.S. LNG exports.

Future Benefits Undermined by an LNG Export Ban:

• Jobs threatened: Between 515,960 and 901,250 jobs, resulting in $59.0 billion to $103.9 billion in labor income, would be at risk if the ban on U.S. LNG exports continues through 2044.
• The economic fallout: An LNG export ban would stifle between $122.5 billion and $215.7 billion in annual contributions to U.S. GDP during the same period.
• Communities shortchanged: Between $26.9 billion and $47.7 billion in tax and royalty revenues meant to benefit communities across the United States would also be at risk in 2044.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Washington, DC – Following the news of the passing of Thomas J. Donohue, former president and CEO of the U.S. Chamber of Commerce, National Association of Manufacturers President and CEO Jay Timmons released this statement:

“Tom Donohue did more than change this world for the better. He showed others how to do the same—how they too could make a difference with their lives and leadership. Today, there are millions of Americans who enjoy meaningful employment and economic security because of the work that Tom undertook, most notably during his storied leadership of the U.S. Chamber of Commerce.

“Tom could command the attention of presidents and prime ministers, of CEOs and media moguls. When he spoke, they listened. But it was his actions outside of the spotlight that revealed his true character. His compassion and his care for his fellow human—that’s what distinguished him. There are countless individuals who have benefitted from Tom’s empathy and instinctive desire to help. My family are among them; we have been recipients of his care and concern on more than one occasion. He lent a hand before you’d even have a chance to ask.

“Tom was also a mentor. As he did for other association executives finding their footing, he invited me to lunch when I began my role. We sat down, and he laid out a game plan. He did that for so many because he believed that the business community is strongest when we all are at our best.

“For anyone who wants to make an impact on the world, look to the example of Tom Donohue, whose trademark combination of dogged determination and quiet kindness made him an institution.

“Our deepest condolences go out to his companion, Margot Wilson, his three sons and their families and all who loved him.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org

Washington, D.C. – Following news that the International Longshoremen’s Association and the United States Maritime Alliance have reached an agreement to extend the Master Contract until Jan. 15, 2025, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Manufacturers are encouraged that cooler heads have prevailed and the ports will reopen. By resuming work and keeping our ports operational, they have shown a commitment to listening to the concerns of manufacturers and other industries that rely on the efficient movement of goods through these critical gateways. This decision avoids the need for government intervention and invoking the Taft-Hartley Act, and it is a victory for all parties involved—preserving jobs, safeguarding supply chains and preventing further economic disruptions.

“Manufacturers depend on the stability of our ports to continue building, innovating, delivering products to American families and supporting communities across the country. We commend the International Longshoremen’s Association and the U.S. Maritime Alliance for coming together in the spirit of collaboration and urge both parties to use this time to reach a fair and lasting agreement. Another strike would jeopardize $2.1 billion in trade daily and could reduce GDP by as much as $5 billion per day. We cannot afford that level of economic destruction.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.87 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org

Washington, D.C. – As a strike of 33,000 Boeing workers continued into its 20th day, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“The potential economic impact of this strike cannot be overstated. The aerospace industry directly supports more than 500,000 manufacturing workers in America, and the ongoing strike at Boeing’s Puget Sound facilities is poised to have significant economic consequences, not just in the Pacific Northwest but across the entire United States.”

The ongoing strike of 33,000 Boeing workers could total a regional economic loss of more than $1.65 billion after just 20 days, according to NAM calculations.

Timmons added, “This disruption will resonate far beyond Washington state. The aerospace supply chain and manufacturers in the U.S. are interconnected deeply, and a continued halt in production will have devastating effects on our country.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.87 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org

Washington, D.C. – Following comments from President Biden that he will not intervene in the strike at East and Gulf Coast ports, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Manufacturers call on President Biden to intervene by invoking the Taft-Hartley Act, which will force ports to resume operations while negotiations continue.

“There will be dire economic consequences on the manufacturing supply chain if a strike occurs for even a brief period. NAM estimates show a strike at the East and Gulf Coast ports would jeopardize $2.1 billion in trade daily, and the total economic damage could reduce GDP by as much as $5 billion per day.

“The president can protect manufacturers and consumers by exercising his authority, and we hope he will act quickly.”

Background:

NAM estimates find that $2.1 billion worth of trade would be at risk every day, and additional estimates have indicated that a strike would reduce GDP by up to $5 billion per day, only some of which could be recovered as goods are rerouted or after a shutdown ends.

Major Commodities Moving Through East and Gulf Coast Ports

• Imports
  • 77.6% of coffee and tea
  • 77.2% of beverages and spirits
  • 58.5% of medical/surgical instruments
• Exports
  • 62.1% of fertilizers
  • 76.3% of vehicles
  • 78.5% of wood pulp used in Europe for heat, diapers, etc.
  • 62.5% of medical/surgical instruments

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.87 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – Following the U.S. Trade Representative’s announcement on the continuation of Section 301 tariffs on China and the White House’s announcement on de minimis, National Association of Manufacturers Vice President of International Policy Andrea Durkin released the following statement:

“A trade war never benefits anyone, and this announcement ignores the realities of today’s economy, potentially harming manufacturers’ ability to grow and invest in the U.S. Manufacturers operate in a rapidly shifting global economy, where tariffs have the potential to affect every industry and every product. To stay competitive, manufacturers must have the flexibility to apply for exclusions as market dynamics change. Without this process, companies of all sizes will be crippled by rigid policies that stifle growth and innovation.

“Raising the cost of critical clean energy inputs, without offering a process for exclusions, directly undermines the Biden administration’s goal of boosting clean energy manufacturing in the U.S. Policymakers must ask tough questions: Are we issuing permits for more domestic aluminum smelters and critical minerals refining for energy production applications? Will wafer and battery production be exempt from regulatory hurdles to ensure automotive and high-tech manufacturing is not slowed? The White House also announced today it will propose a rule significantly altering how goods enter our borders under de minimis, subjecting hundreds of millions of additional packages to scrutiny by CBP—which raises the question of how we will ensure that manufacturing supply chains are not disrupted by this massive new burden on the agency charged with protecting our ports of entry.

“These questions all point to one fact—that tariffs often fail to address the underlying problems they’re supposed to solve, while often complicating manufacturers’ efforts to improve the quality of life for everyone. We are asking the administration to implement an exclusion process that fairly accounts for the unintended consequences of tariffs on our industry’s ability to create jobs and reach the 95% of customers around the world.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.89 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – The National Association of Manufacturers announced that Victoria Bloom, who was most recently the economist for the Senate Commerce, Science and Transportation Committee minority staff, joined the NAM and its 501(c)3 workforce development and education affiliate, the Manufacturing Institute, this summer.

“Manufacturing in the U.S. is a life-changing force for good, providing well-paying jobs and career opportunities and products that improve the quality of life for everyone,” said NAM President and CEO Jay Timmons. “Victoria will help us tell this story with compelling data, which will demonstrate the real impact of policy decisions and illustrate the modern manufacturing resurgence.”

“With Victoria joining the MI team as the head of research, we can look forward to augmenting the MI’s insights and tailored solutions to manufacturers’ hiring and retention challenges. Victoria will helm the development of a portfolio of studies, aimed at exploring our industry’s workforce and competitiveness obstacles and opportunities. Her work will be instrumental toward helping manufacturers build the next-generation workforce of today and tomorrow,” said MI President and Executive Director Carolyn Lee.

Bloom, who holds a bachelor’s degree in economics from Louisiana State University and a master’s degree from George Mason University, previously worked for Sen. David Perdue (R-GA) and Rep. Gary Palmer (R-AL), in addition to her work on the Senate Commerce Committee. As Senate Commerce Committee economist, she served as lead economic and budgetary adviser to Ranking Member Ted Cruz (R-TX) and the minority committee staff. 

Bloom will work closely with NAM leadership to design and execute original research, including the NAM’s quarterly Manufacturers’ Outlook Survey. She will provide NAM members, policymakers and media with the latest economic analysis on trends impacting the manufacturing industry and workforce, as well as the broader economy.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.87 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org

Washington, D.C. – Following the Environmental Protection Agency’s decision to delay the deadline for when companies must submit records dating back to 2011 on per- and polyfluoroalkyl substances, otherwise known as PFAS, National Association of Manufacturers Vice President of Domestic Policy Chris Phalen released the following statement:

“We are pleased to see the EPA delay this retroactive reporting requirement—as the NAM has called for—which will temporarily prevent an increase in the regulatory burden facing manufacturers. More broadly, today’s announcement reflects the massive administrative burden this proposal would impose on both the business community and regulators, while failing to provide insights for effective and prioritized public health efforts. We urge the agency to reverse course entirely, unless and until it has the capacity to effectively enforce the standard.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.87 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.